MBA or ER offer
Posted this in ER forum but wanted to post here as well as I felt this forum gets the most traffic.
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So just want your guys' inputs/opinions as to my situation.
I graduated from a non-target state school in 2009 and did a FLDP program at a top BB post graduation. I did it for 2.5s yrs and realized that I did not want to do internal finance for a long time and instead wanted to go into Asset Management/equity research.
I decided to go to a top-target school in the UK for a Msc Finance so I could make the career transition from BO finance to FO while picking up a prestigious degree at the same time. Despite all the hype about attending a target, I was baffled by the fact that many students struggled to secure FO roles despite this being a TOP target in the UK (majority of this was due to the Euro crisis and new regulations prohibiting international students from working in the UK without a sponsored Visa). Having zero luck in recruiting (due to my international status), I interrupted my studies (got tuition fees back) and went into a product control role at another lower-tier BB back in my country. This was probably a stupid career move, but at the time I was scared straight that I was not going to find a job in the UK and this job paid more/gave me more responsibility then my prior job.
After about a yr, I decided that getting an MBA in the US might be a good career step so I applied to a bunch of top 15 programs and recently got admitted to UCLA Anderson (awaiting other offers). At the same time, I have been searching for a FO role through head hunters and was able to secure a ER role at a well known boutique. This position also pays a little over 100K.
Now I'm kind of confused as to what to do. Do you guys think its better at this point of my career (I'm currently 25 btw) to gain experience in ER or should I take two years off and study for the MBA? Getting an MBA from a top school appeals to me from an opportunity/networking prespective, but scares me at the same time when I think about the opportunity cost (400k considering 100K lost income a year), the fact that I will be in debt of about 200K, and how there are no promises (if i don't get a FO job coming out of my MBA it would RLLY RLLY suck).
So what do you guys think? Work in ER or go MBA??
If it helps at all, I passed the CPA and studying for CFA level II at the moment.
Thanks.
Do ER, finish the CFA levels 2 and 3, and get to know your coverage very well. A UCLA MBA won't make you more competitive than that. A few years from now, if there is little movement/retirement in your group and there isn't a chance to move up, then look for buyside jobs and failing that get your MBA at a Top 8 US school and do buyside recruiting there. Note this plan assumes you have reasonable job security (i.e. the BB isn't actively cutting ER).
I agree.
agree w above post but would add that the other schools you are waiting to hear from matter. if you get into a booth / wharton / columbia you're prob better off going for MBA
And now you're there, offer and everything. What's the problem?
Another way of looking at it:
You have a bird in the hand (ER offer) and a bird in the bush (MBA admission that could lead to something else). But, since a bird in the hand equals two birds in the bush, ER offer > MBA opportunity. QED.
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